Hong Kong’s cargo volume slumped 16.4 percent in 2022 no thanks to the impact of global economic uncertainties, geopolitical tensions and supply chain disruptions. Cargo throughput saw a 26.4 percent drop to 351,000 tonnes in December 2022, compared to the same month last year, with import and export volume sliding 33 and 26 percent year on year in the same month. Despite the drop in air freight volume, the airport handled a total of 5.7 million passengers, representing a year-on-year … [Read more...] about Passengers soar as cargo dwindles at HKG in 2022
air freight volume
K+N profits down 16%, but still in the black
Kuehne + Nagel has announced its net profit fell 16.1 per cent in the second quarter compared with a year ago as the global economic slowdown depressed ocean and air freight traffic. The Swiss logistics giant booked net profit of US$120.7 million in the three months to 30 June as revenue slid 21.9 per cent to $3.9 billion. Net profit in the first six months fell 16.2 per cent to $241 million from the same period in 2008 as revenue shrank 20.6 per cent to $7.9 billion. The Zurich-based … [Read more...] about K+N profits down 16%, but still in the black
